2,231 Shares in Automatic Data Processing, Inc. $ADP Acquired by Pure Financial Advisors LLC

Pure Financial Advisors LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,231 shares of the business services provider’s stock, valued at approximately $500,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $8,097,229,000. State Street Corp lifted its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after acquiring an additional 136,876 shares during the last quarter. Capital Research Global Investors grew its position in Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADP shares. Guggenheim raised their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Argus decreased their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $273.50.

Insider Activity

In other news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,332 shares of company stock worth $898,211. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $284.68 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $305.31. The company has a fifty day moving average of $254.65 and a 200-day moving average of $227.55. The stock has a market capitalization of $113.09 billion, a price-to-earnings ratio of 26.02 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.